W, G, & L to refinance $6 million in bonds - WALB.com, Albany News, Weather, Sports

W, G, & L to refinance $6 million in bonds

  • More WALB News10 HeadlinesMore News HeadlinesMore>>

  • Smack down on Cancer at the State Theater

    Smack down on Cancer at the State Theater

    Saturday, April 19 2014 11:54 PM EDT2014-04-20 03:54:50 GMT
    Wrestlers from all over Georgia and Florida were in town for the Smack Down on Cancer Event at the state theater. More >>
    Wrestlers from all over Georgia and Florida were in town for the Smack Down on Cancer Event at the state theater. More >>
  • Americus student honored in statewide design contest

    Americus student honored in statewide design contest

    Saturday, April 19 2014 7:59 PM EDT2014-04-19 23:59:05 GMT
    Indira Zelaya, a fourth grader from Sarah Cobb Elementary School in Americus, was honored in Atlanta recently for her artwork supporting Georgia's manufacturing industry.  She was nominated by South GeorgiaMore >>
    Indira Zelaya, a fourth grader from Sarah Cobb Elementary School in Americus, was honored in Atlanta recently for her artwork supporting Georgia's manufacturing industry.  She was nominated by South Georgia Technical College.More >>
  • Swimming pool destroyed after storm

    Swimming pool destroyed after storm

    Saturday, April 19 2014 7:32 PM EDT2014-04-19 23:32:11 GMT
    An Albany man arrived home to find his pool completely destroyed. He's not sure what happened, but the wall caved in and the concrete cracked. He says he's had the siding redone several times.More >>
    An Albany man arrived home to find his pool completely destroyed. He's not sure what happened, but the wall caved in and the concrete cracked. More >>

October 18, 2005

Albany- City commissioners agreed to allow W,G, & L to refinance more than $6 million in bonds for their water treatment plant. Instead of paying 5.38% interest, they'll pay 3.97%. That's an estimated savings of $555,000 over the next 20 years.

"You never know what the market is going to hold for energy, but at last maybe it will keep rates down to what they are at their current levels and prevent increases, or at least not as high of increases," says ward five commissioner Bob Langstaff.

The interest rate will go into effect on October 25th. Investment bankers say refinancing the bonds will reduce the amount of the checks W,G, & L will have to pay to the bank each month.

Feedback: news@walb.com

Powered by WorldNow